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The Economics Evaluation of Grid-connected Photovoltaic Systems in Residential Houses
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  • Journal title : KIEAE Journal
  • Volume 15, Issue 6,  2015, pp.5-10
  • Publisher : Korea Institute of Ecological Architecture and Environment
  • DOI : 10.12813/kieae.2015.15.6.005
 Title & Authors
The Economics Evaluation of Grid-connected Photovoltaic Systems in Residential Houses
Lee, Hyun-Seung; Kim, Sung-Bum; Shin, U-Cheul;
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 Abstract
Purpose: To evaluate the economic performance of grid-connected photovoltaic system in residential house, household electricity bill policy of Korea Electric Power Corporation (KEPCO) must be applied precisely, and market tendency and uncertainty of system also need to be considered. In this study, to evaluate the economic feasibility of PV system, we measured PV power generation and electricity consumption of six of Green home in Daejeon through web based remote monitoring system. Method: We applied Monte-Carlo simulation based on life cycle cost analysis, to reflect an uncertainty of main factor in economic feasibility evaluation of photovoltaic system. Result: First, with deterministic analysis, the difference of NPV of cumulative financial savings among households varied from -3,310 ~ 24,170 thousand won, portraying notably big range. Also the possibility of getting the same result was 50% when applying uncertainty. Second, the higher electricity consumption is, the more economic feasibility of photovoltaic system increases because KEPCO uses progressive taxation in household electricity bill policy. Third, The contribution to variance of electricity price increases in NPV varied from 98.5% to 99.9%. While the inflation rate and annual degradation contributed very little to none.
 Keywords
Economic evaluation;Green home;Life Cycle Cost analysis;Monte-carlo simulation;Grid-connected photovoltaic system;
 Language
English
 Cited by
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